Cost of living in Park City research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Park City is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Park City is 88, with 100 being the average.
The cost of living index in Park City is 0.9x lower than the national average.
Park City ranks as the #82 cheapest in Illinois out of 338.
Park City ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Park City is $20,300.
The median income in Park City is $54,291.
According to the most recent data on the cost of living, Park City has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Illinois, Park City has a cost of living index that's 1.0x lower than Illinois's index of 92.
The standard of living in Park City ranks as #82 most affordable out of the 338 places we measured in Illinois. By definition, that implies Park City ranks as the #256 most expensive place in the Prairie State.
For more reading on life in Park City, check out:
Six factors go into calculating the cost of living index in Park City. Here is how it fairs on each of the criteria:
The Services index in Park City is 115.
The Groceries index in Park City is 109.
The Health index in Park City is 100.
The Housing index in Park City is 35.
The Transportation index in Park City is 113.
The Utilities index in Park City is 94.
|Living Expense||Park City||Illinois||National Average|
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Park City is $20,300.
The Median Rent in Park City is $974.
The Median Income in Park City is $54,291.
The Home Value To Income in Park City is 0.4x.
The Rent To Monthly Income in Park City is 0.22x.
|Statistic||Park City||Illinois||United States|
|Median Home Value||$20,300||$212,600||$244,900|
|Home Value To Income||0.4x||2.9x||3.5x|
|Rent To Monthly Income||0.22x||0.18x||0.2x|